Stories
Q2 Update: CSB Bank, Equitas SFB, ESAF SFB Show Strong Growth in Deposits & Advances.
- •CSB Bank, Equitas Small Finance Bank, and ESAF Small Finance Bank released Q2 business updates, reporting robust growth in deposits and advances.
- •CSB Bank's total deposits rose 18% to ₹46,889 crore, and gross advances increased 22% to ₹42,373 crore; gold advances surged 36%.
- •Equitas SFB's gross advances grew 29.58% to ₹50,694 crore, and total deposits increased 19.03% to ₹52,483 crore, despite a decline in CASA.
- •ESAF SFB's total deposits climbed 24.34% to ₹28,466 crore, and gross advances rose 25.05% to ₹23,931 crore; CASA also saw 9.91% growth.
- •All three banks demonstrated strong credit growth, with CSB Bank's gold-linked advances and Equitas SFB's declining CASA ratio being key highlights.
Key Questions Answered
CSB Bank reported an 18% year-on-year increase in total deposits to ₹46,889 crore and a 22% rise in gross advances to ₹42,373 crore for the September quarter. Its CASA deposits grew by 6% to ₹8,889 crore, while advances against gold and gold jewelry saw a significant 36% jump to ₹22,301 crore.
Equitas Small Finance Bank recorded a 29.58% year-on-year increase in gross advances, reaching ₹50,694 crore. The bank's total deposits also grew by 19.03% to ₹52,483 crore, alongside an improvement in its cost of funds down to 7.12%.
ESAF Small Finance Bank registered a 24.34% year-on-year and 5.73% quarter-on-quarter increase in total deposits, reaching ₹28,466 crore at the end of the September quarter. Its gross advances grew by 25.05% year-on-year and 3.08% quarter-on-quarter to ₹23,931 crore.
